Christmas 2005: Bargains Galore!
6:21 AMIf you are one of the many millions of Americans who will be shopping this holiday season for gifts for loved ones, friends, and business associates, you are in the driver's seat when it comes to finding the best prices. Several events this past year have merchants scrambling to set prices low enough so that you will shop and shop big. Let's take a look at how these events are shaping the retailing landscape and how you can make it all work to your advantage.
High Oil Prices - Hurricanes Katrina and Rita pushed already high fuel prices to record levels. Although off of their peak levels, prices are still too high for many consumers who feel pinched and are likely to cut back on spending. Factor in Hurricane Wilma and this will be a tough year for many.
Rising Mortgage Rates - Incremental increases in mortgage rates means that mortgage bills are going up, taking away from money that could be used elsewhere. Home sales remain steady, so companies like Home Depot are likely to benefit, while department stores will be scrambling.
Credit Card Changes - Our nation's new bankruptcy laws coupled with credit card companies requiring higher minimum payments will certainly put the squeeze on for some. Not necessarily a bad thing to require higher payments, but the timing couldn't be worse.
Online retailers have a great opportunity to capitalize on consumer's reticence. With lower overheads, free shipping, and access to a large pool of inventory, look for online shopping to jump up again this year.
For 'brick and mortar' retailers, expect that the motto, 'If you cut prices sharply, they will come,' to hold true. Stagnant inventories cost money to maintain; moved merchandise means money that can be applied to the bottom line.
Look for aggressive sales and even price wars this holiday season as merchants redouble their efforts to reel you in. They have to; for some their very survival depends on your patronage.
Shop wisely!
Article source: Free Sales Articles.
Why Good Lead Generation Management is Important
6:21 AMYou understand how important leads are to your business. Managing lead generation requires flexibility and determination. Your ability to manage lead generation depends on your management abilities as well as how well you understand the process. You must be an example, teacher, motivator and coach for you lead generation team to have success.
Management is a tough job. When adding the specific pressures and challenges that come with lead generation, you can sometimes find yourself in a bind. You must keep the sales team effective by providing qualified leads to convert, and you need to keep the lead generation team happy so they will keep up the phone calls to work the numbers amidst constant rejection. The ability to maintain a positive attitude is your greatest asset.
To do your job well, you must have the proper systems and training in place. The right lead generation system allows you to get to the heart of what your prospects want and need. This in turn will allow you to provide quality leads to the sales team. However, management ability alone falls short if you aren't able to properly train your employees. A well-trained lead generation team is happy and productive because they understand what to do and why it is so important to the success of the business.
Organization saves time, money and energy. The systems that you use need to work together to accomplish this aim. Each element should be viewed with the perspective of being a part in the greater whole as well. Time spent organizing and implementing lead generation systems that work will regain time later, adding to overall profitability.
Another critical aspect of lead generation management is the way you work with the data that is collected. It is important to have good software in place to maximize effectiveness and make your staff's jobs easier and more enjoyable. Lead generation management is certainly vital to your company's success. There are plenty of free resources available on the Internet that will help you learn more about good lead generation management techniques - don't be afraid to seek valuable help.
Author: Mac McIntosh
About the author:
M. H. 'Mac' McIntosh is described by many as one of America's leading business-to-business marketing and sales consultants and an expert on lead generation management.
Article source: Free Sales Articles.
The Three Warning Signs of Not Doing Enough Prospecting
6:20 AMAlmost any salesperson can improve their results by doing more prospecting. When an salesperson is brand new in the business, oftentimes prospecting takes up a large part of their time because they really have no active transactions they're working on. But sometime thereafter salespersons can get out of the habit of prospecting regularly once they feel busy and working on activity. The problem here is that feeling busy doesn't necessarily translate into making more money, oftentimes leaving salespersons feeling frustrated at why their results aren't improving.
Sometimes when asked how much their income would increase over the next 12 months if they made sure to prospect 10-12 hours during every week that they're working, the majority of people feel that their income would at least double, some say triple, and nearly everyone feels that their income would increase by at least 25%.
Sometimes salespersons have lulled themselves into believing they're prospecting more hours than they really are in their business. Once these clients recognize that the number of hours per week they're actually prospecting is abysmal, they recognize that it's definitely time to get themselves moving.
So in case you're wondering if you're prospecting enough in your business right now, consider these three warning signs to watch out for that may indicate that your level of prospecting needs to be improved.
Warning Sign #1
After Years in the Business, You're Still Doing a Lot of Cold Calling, Not Warm Calling
If you find after years of being in the business that when you prospect people, they still don't know who you are, you're not prospecting these people enough to build the kinds of relationships that will easily lead to more business for you. salespersons who prospect a lot get to a point where many of their calls are 'warm calls,' meaning that they're calling and talking to people they've already talked with before. So if you're not experiencing a lot of warm calls after having been in the business for a number of years, it may be because you're not doing a lot of prospecting.
Warning Sign #2
You're Finding People and Companies Who Have Requirements, But After It's Too Late to Begin Working with Them
This is one of the biggest nightmares salesperson can experience. You've identified someone who's ready to take action, but they're already committed to working with someone else...your competitor. So why weren't you in contact with these people months ago when they were just beginning to realize they needed to talk to a salesperson? It may be because you haven't been doing much prospecting on an ongoing basis throughout the year.
Warning Sign #3
You Hear About Transactions Closing in Your Area That You Never Even Knew Were Happening
If you find out through others or through the media that someone has bought, sold, or leased in the territory you work in, and you didn't even know that was available, or that the people or company were looking, this too is a sign that you may not be doing enough prospecting.
So how did you measure up? Did you find that any of these three warning signs applied to you?
Prospecting is one of the most difficult activities for many of us to continually do in sales. Who normally wants to put themselves out there in a situation where maybe nine times out of ten you'll be rejected or end up talking with people who just aren't interested in doing anything?
The point is, though, that the one call out of ten where the people may be interested in doing something is the one that will make you huge amounts of money throughout the year, as long as you're making these calls every single week (or canvassing in person if you prefer).
So evaluate where you're at in your level of prospecting right now. And if you feel your income could definitely be improved by prospecting 10-12 hours or more every single week, do what you must to make sure you get this prospecting done.
Article source: Free Sales Articles.
New Xbox 360 Sales Tactic?
6:19 AMIn a statement that surprised gamers and non-gamers alike, Peter Moore of Microsoft Xbox, endorsed Nintendo's new Wii console. Speculations circulated whether this statement by Moore was a genuine praise or a calculated move designed to offset the launch of Sony PlayStation 3. Moore even referred to himself as a big fan of the Nintendo console. He suggested that for the price of a PS3, gamers would be able to get a new Xbox 360 plus a Nintendo Wii, with some leftover for a few games. It can be recalled that Sony pegged the price of their new PlayStation at $499-$599, a price the company claimed to be fit for a Blu-ray console.
This move by Microsoft seemed to be another tactic to push the Xbox 360 sales higher with the imminent release of the PS3 at its heels. Peter Moore was downplaying the viability of the PS3 by pointing out the only disadvantage of the new Sony console: its price. But Moore's reason was not only consumer concern. Moore's statement also implied that Microsoft do not see Nintendo as direct threat and competitor. Perhaps he thought that having Nintendo's support would clearly buoy Microsoft's sales. Moore was right to do so in this case, since ugly numbers were cropping up in sales reviews of the Microsoft consoles.
The marketing and research firm, NPD Group supplied numbers and reports that indicated that the prized console of Microsoft lagged behind the PS2 in terms of hardware sales. Launched half a decade ago, Sony's PlayStation 2 still lets its presence be felt at the game console market. The five-year old Sony console even managed to exceed the sales of the then-brand new Xbox 360 especially in the month of May. The next-gen console sold only 221,000 units; 11,000 units less than the PS2 sales. Though Microsoft retaliated quickly by revamping shipment processes and adding a third manufacturer for its console, it wasn't enough to draw considerable margin between their sales and that of PS2.
But even if the move didn't suffice, it somewhat improved Xbox 360 console sales. Succeeding sales reviews showed that the sales of the console picked up; the influx of consoles ensuring amply supply and brisk sales. But the PS3 was touted to be a bigger threat. It didn't help either that Sony's processing systems have improved since the release of the PS2. Clearly, it became imperative for Microsoft to beef up its marketing operation to ensure their new console's top position within the next-gen hierarchy.
In conclusion, Microsoft's marketing plan included Peter Moore banking on Sony's overly-inflated ego that expected gaming fans to shell out big bucks for the PS3. Moore targeted the rival console's price when he made that statement about Xbox 360 and the Wii console. He also hoped to draw in Nintendo fans over to the Microsoft side by actively endorsing the Wii. If Nintendo approves Moore's tactic, the next-gen console battle will be a two versus one fight. Another tell-tale sign of Microsoft and Moore's pricing attack at Sony's new console was the reported price slash for Xbox 360 consoles during the holidays. The price slash was clearly planned to coincide with Sony's PS3 launch. However, the affirmation if Peter Moore's tactic worked still rests on gamers' shoulders.
Article source: Free Sales Articles.
How To Generate A Steady Supply Of Quality Leads
6:20 AMGraduate ProspectsImage via WikipediaIt's another day at the office, and you're waiting for a potential customer to call or walk in.
How different would your business be if your current customers were enthusiastically seeking out prospective customers for you? Imagine how exciting it would be to talk to people who already know about you and your products or service. How difficult would it be to close those sales?
Selling to those people would be simple. So why aren't your current customers bringing you referrals? Perhaps it's because you have not shown them how, motivated them, made it easy for them, asked them or started the process.
Getting good quality referrals requires planning and preparation.
Start by making a list of all the people who might be a referral source for you. Start with your current clients. Which ones are currently sending you business? Which ones are very satisfied with your product or service and the results they are getting?
Next consider people you know who would have access to people who would be ideal prospects for you. People such as your attorney, accountant, banker, broker, etc.
Now, go through you list and pick out the top ten to twenty percent of your best referrers. There's a good chance you already have some people who regularly recommend prospective customers to you. Start with these potential referral sources. You'll have better results developing stronger relationships with a few referral sources rather than shallow relationships with lots of sources.
In order to help your referrals sources to give you good, qualified referrals, you need to get crystal-clear about what you are looking for. Who is your ideal prospect?
What problems do your products and services solve? It will be easier for your referral sources to spot potential clients for you if they are clear about what problems to look for.
When you are clear about describing the recommendations you want, you make it easier for your referral sources to identify prospective customers for you.
Now that you have identified several possible referral sources and you are clear about the types of clients you want, it's time to create a customized plan for each referral source. One important aspect to remember is, what does your referral source gain by referring people to you? People want to know what's in it for them.
Some of your referral sources will do it just because they are so sold on your product or service. Others will need some other benefits in order to become good sources of referrals. So think of as many benefits as you can for those people to referr business to you.
To instill confidence in your referral source, you need to let them know exactly what you will do when given a referral. Your referral source has surely developed valuable relationships over the years and will be reluctant to do anything that might jeopardize those
relationships. Be specific as to what will happen when your referral source gives you a referral. A simple, step-by-step process that shows how you will represent yourself will provide assurance that the potential customer will be treated with respect and dignity.
Next, discuss the specific actions you want from your referral source. Do you want them to call the potential customer? What do you want them to say? Would you prefer they arrange a three-way appointment? Often, people want to give you referrals, but don't know exactly what to do or how to do it. Train them; coach them; help them get clear on what's expected of them.
When a satisfied customer sends someone to you the sender should immediately receive some recognition and appreciation. Possibly a quick thank you note or telephone call at bare minimum. That should happen right away. Some type of thank you gift is usually
appropriate and effective.
I've sent steaks, books, clocks, calculators, small electronic items, knife sets, all sorts of things. I recommend gifts that you do not ordinarily sell and a different gift each time the person refers. You will be surprised by the positive results from this kind of action.
You'd also be surprised at the negative results of not doing this. The client who refers once and fails to get recognition and appreciation will probably won't say anything to you, but to himself and often to a friend or associate he does say, 'Can you believe it? I sent that guy a customer and didn't got as much as a thank you.' And then he won't ever refer any one again.
From the new referrals and clients you obtain from those referrals, you can start the process all over again and develop new referral sources. This is a great way to dramatically boost your business without the time and effort of cold calling and cold prospecting.
Developing and implementing an effective referral strategy can produce a steady stream of new business for years to come. You can achieve your professional goals faster and easier through effectively targeting referrals.
Author: Jim Klein
About the author:
Jim Klein provides salespeople with effective strategies to increase their sales while working less, guaranteed. Get free sales training by subscribing to our free newsletter 'The Sales Advisor'.
Article source: Free Sales Articles.
Will You Pass the Flinch Test?
6:20 AMAfter a lengthy buying process, the time has come to submit pricing. Countless hours are spent formulating a glorious proposal that details your comprehensive solution. Proud of your accomplishment, you present the proposal to the buyer. Skipping the sections about your company and your solution, she flips right to the pricing page. 'Oh my gosh, I didn't think it would be this expensive!'
What happens next determines whether or not you will get the business. When I say 'get' the business, there are two sides to consider. The obvious is whether or not the prospect will award the business to you. The less obvious is whether your company will agree to their desired price level. The negotiation may get to a point where the prospect says they want to award you the business, but at a price unacceptable to your company. If you've ever been there, it is painful to say the least. As a sales person, you have a responsibility to facilitate the process in a way that leads to a mutually acceptable conclusion.
There is a trade secret in the purchasing world. They call it the 'flinch test.' This is the test Procurement Agents and other professional buyers give to sales people when they provide pricing. 'Wow! You are 25% higher than your competition.' These pros are trained to react with surprise so that they can see if the sales person is confident in the price they have put forward. It is nothing more than a straightforward negotiation tactic. Often times, they overstate the price difference such that you can do some quick math and see that the differential is bogus. I can recall a time where I was told that we were 50% higher than the competition. When I reviewed the numbers, this meant that the competitor was losing 18% based on fixed costs that we both had. It was highly unlikely that the competitor was signing up for this kind of an account. When I asked the Procurement Agent about that figure again, he flinched and we ultimately won the business.
The key to passing the flinch test is to respond with confidence in your price. If you don't believe you are providing a fair, competitive price for the solution, my question is why are you presenting it anyway? One would hope that you have integrity so why present something you don't believe in?
Some responses that cause you to fail the flinch test.
- What price were you looking for?
- I'll ask my manager if we can do better.
- How about if I take 10% off?
The reason these are failed responses is that they create trust issues with the prospect. Were you trying to rip them off with the price you presented? One of two things is true. Either you were trying to rip them off or you believe you provided a fair price. What other option is there? Some will say that they were preparing for a negotiation. That's a fair point; however, it is a terrible negotiation strategy to give the appearance that you will drop your price first moment someone balks. That approach gives the impression that you sought to gouge them.
Most negotiations end at the middle ground. They wanted 5; you wanted 10 and settled at 7.5. That seems logical. However, if you lower your price early, the middle ground is lower. In the same scenario, if you dropped to 8 right off the bat, the middle becomes 6.5. As I mentioned, you have to manage the negotiation such that the middle is not lower than an acceptable price for your company.
Successful sales people have a planned, or dare I say 'canned,' response for the flinch test. They don't expect a prospect to respond with excitement about a price. They anticipate shock and have a process to handle it. Here are their secrets�
1. They set expectations upfront. Early in the buying process, they set the expectation that they are not the low price provider. 'To be clear, our company is rarely the low bid, does that mean that we won't be working together on this project?' If they say no, you are set for the later phases of the process. If they say yes, at least you haven't invested a ton of time in an account that you won't win. If you are going to lose, lose early.
2. They don't flinch! 'I'm not surprised by your reaction. I get that a lot. As I mentioned at the outset, we are rarely the low bidder.'
3. They seek to understand. 'When you say that you are shocked by the price, which part is surprising? This is the subject of another article of mine which addresses the importance of understanding the prospect's perspective of price.
4. They reinforce their position. 'Since we are rarely the low price provider, what do you think our 1000 clients see that leads them to pay a little more to have us?
Many years ago, I had the opportunity to participate in Procurement Training. Think of it as sales training for buyers. After the session, I had an interesting conversation with the trainer. Here's what he told me�
'For 25 years, sales people asked me for coaching on the price of their proposal as I was the head of Procurement for my company. I told each one of them the same thing. Provide us with the best price that you feel good about giving and either way, you win. I always got a puzzled expression from that. Let me explain. If we award the business to you at that price, you're happy. If we award the business to someone else at a lower price, you are happy as well because you wouldn't have been happy to support the account at that price point.'
To share a little secret, I use the flinch test all the time when I buy. It's amazing how quickly sales people drop their drawers on price. I bet I've saved my family 20% across the board for all of our spending just with that test. It's no wonder that professional buyers use this. I often wonder how many commission dollars were lost just because they flinched. How may commission dollars have you lost because you flinched?
Article source: Free Sales Articles.
Make Money Fast - Become a Magician in Sales
6:21 AMThere are ancient teachings for increasing wealth that few people will ever know. If you are aware of the secret you may have tried several of the steps. Perhaps you spent time visualizing what you want, repeating money affirmations. However what you truly wish for is to make money fast and the results are slow and fruitless.
Perhaps you feel like giving up your quest to make large sums of money and live the life you want. Do you know something? It does not matter if you are sell a packet of gum to an island of chimpanzees or if you are selling a product for $997 you can become rich and attract money faster to you by doing things in a certain way.
One of the greatest secrets to attracting money fast is to place a large amount of power behind the intention. Few people know how to do that and even fewer will use it even if they were told. You see it's quite easy, magical and powerful and most people like complicated and confusing.
If affirmations and visualization is not backed by a super natural power it is a hit or miss. You can yield some of that power by starting to free up your time.
The more work that you take on the more frustrated you get and the more blocked your own energy field will be.
Your intentions need to move through a body that is light, calm and focused. Energy flows quickly and easily where there is little obstruction.
Can you now see the intense power you can yield by just doing this basic thing? Yes the more you free up yourself the easier it is to attract money fast.
You can make money move a lot faster towards you if you will move out of the way and if you learn to increase your energy to outrageous levels.
Everything starts at a subatomic level. Your desire to increase your sales and attract money faster can only be done at a subatomic level. That is the tiniest level of energy.
Once you have access to the energy of a thing you can manipulate it to move in the way you like.
Article source: Free Sales Articles.
Getting Passed the Gate Keeper
6:21 AMWe all know the feeling of going out to make our cold calls, only to be shot down by the person at the front desk who looks at us as nothing more than a solicitor.
These front desk people would be otherwise known as the gate keepers.
Lets face it, getting passed the gate keeper can be tough, we are on their turf, what they say goes. Any slight resistance could end up with them making a call to security.
Here are few really good tips on getting passed the gate keeper that have been proven to work.
1. Ask to speak with someone in the sales department.
The next time you are out cold calling, the last thing you want to do is walk into an office building, approach the front desk, and immediately try to sell your product.
Instead, try this approach. Walk up to the receptionist counter, introduce yourself verbally and with a business card, and ask if you may speak with someone in their sales or retail department.
By asking to speak with someone in a specialized department, the receptionist will believe you are there on official business and put you in contact with that department.
Now that you are in front of someone in the same area of work as yourself, they will most assuredly be sensitive to your needs, and understand your situation.
These are the people in the company that will point you in the direction you want to go, and in the direction of the people you want to speak with about your products and services.
2. Call ahead before you go.
Before you go out to make your calls, place a telephone call to the companies you plan on visiting to let them know that you will be stopping by.
Tell them something like this.
Hello, my name is Jim Smith and I will be in your neighborhood this afternoon. I just wanted to let you know that I will be stopping by between the hours of twelve and two to introduce myself. That's it, stop right there.
Do not ask for permission to stop by. This will give them the opportunity to say no.
Once you arrive at their office, you can than reintroduce yourself as the person that had called earlier in the day.
This technique makes the transition from gate keeper to decision maker much smoother.
Getting passed the gate keeper can be very tricky, but it can be done. By following the two examples I described above, you should find yourself talking with more decision makers. Good luck.
This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.
Article source: Free Sales Articles.
How To Handle Rejection
6:21 AMThis sales prospecting technique isn't specifically about how to prospect. It's a technique for dealing with the ill effects of prospecting, how to handle rejection. Being able to overcome the ill effects of rejection is vital to success in sales.
This technique for handling rejection comes from one of my mentors, Tom Hopkins.
If you focus on this sales prospecting technique when you get rejected you'll turn the bad feelings into good feelings. If you're constantly risking rejection, finding it, overcoming it and closing sales you may not need to use this technique. If you're not doing all these things, you need this technique. It will increase your sales your confidence if you do.
The first step to using this sales prospecting technique is to determine the cash value of each rejection you receive. How do you do that? Let's say for every sale you close you are paid $500. Then 1 sale = $500.
The second step requires that you're tracking your contacts-to-closings ratio. The top sales people track this and other information daily. Tracking requires little effort and yields valuable information. For example, when you see negative changes in your tracking information, you become aware of challenges you need to address before they affect your sales.
Let's say you contact ten people to make a sale. This means your contact-to-closing ratio is ten to one. The top sales people are always striving to improve their closing ratios; however, the ten to one ratio is a reasonable average. Now, 1 sale = $500, 10 contacts = 1 sale, therefore, 1 contact = $50.
If you look at getting paid for each contact instead of each sale you'll see rejection in a whole new way. Aren't you paid by the contact and not the sale? After all, if you don't make contacts, you don't make sales.
Top sales people look at the value of the activity as well as the result.
Using this sales prospecting technique, making contacts and handling rejection becomes fun. Every time a contact results in a rejection of your product or service you can view the rejection as making money. In the above example you would make $50 for every rejection and be one contact closer to making a sale.
It changes the way you look at things, doesn't it?
If you place a dollar value on prospecting and rejection as an activity, you will look forward to these activities. You will view the activity as making money and be inclined to do it more often.
Author: Jim Klein
About the author:
Jim Klein provides salespeople with effective strategies to increase their business while working less, guaranteed. Get free sales training by subscribing to our free newsletter 'The Sales Advisor'.
Article source: Free Sales Articles.
Top 10 Tips For Getting Started In The Wholesale Business
6:21 AMWhether you are just thinking about, or you have decided that you would like to start running a wholesale business, there are a number of items that you should spend considerable time planning and researching before going full steam ahead. Proper planning and fact-finding up-front can not only save you from a lot of headaches in the beginning, but can also mean the difference between a successful wholesale business versus a monetary disaster waiting to happen.
In this article we will provide you with ten tips to help guide you along the way as you begin planning for your business. They are presented in chronological order so that you can use them as a way to plan out the proper steps along the way. Remember, success depends on many factors - and the most important factor is your determination and energy you put into making your business a success!
Step 1: Ask Yourself Why?
Why do you want to get into the wholesaling business? It is because you would enjoy working with other businesses and manufacturers being the main point of contact between the two? Or is it because you think it is an easy way to make money quick?
Wholesaling is a demanding business, and can require lots of up-front capital, warehousing, logistics planning and customer service skills. As the main channel between the manufacturer and retailers you may find yourself dealing with hundreds of thousands of units of merchandise needing to be shipped across the country on a moments notice. Large retailers often pay on a Net-10 or Net-30 schedule, meaning payment is made after the goods are delivered. What would you do if a retailer did not pay or went bankrupt before you received payment?
Step 2: Study Your Competition
It does no good to enter a market where there already exist established, credible wholesalers for a given product. Retailers want to know they have a dependable supply source that meets their terms and often will not change wholesalers for an established product. Just because you build the warehouse does not mean they will come.
Use your local Chamber of Commerce, the Internet and even visit with retailers to find out what wholesalers exist in your area. If you want to specialize in a specific product, contact the manufacturer directly to find out who handles wholesaling for them already in your region. There may be none in your state, or there could be three down the street.
Step 3: Assess your Financial Situation
Wholesaling can require a lot of up-front capital and expenditures before you even see one cent of income. Do you have the resources to spend on setting up a relationship with a manufacturer who will most likely require you to buy in huge quantities from them? Can you afford to wait up to 30 days for payment? Do you have the money to invest in shipping freight or setting up your own delivery service?
Be sure to look past the startup costs as well. Employees, taxes, property rental and insurance are just a few of the things you will need to factor in as ongoing costs.
Step 4: The Business Plan
A solid business plan is the foundation of any business. You need to make sure that you have spelled out what you intend to do and how you intend to get it done. Not only will banks require this for financing, but often other businesses you deal with will want to see it as well. It should be the guidelines that you follow every day in your business to achieve the goals you have set forth.
For this part, it is often wise to work with a business lawyer or seek professional advice from business consulting services. A good resource to help you find people in your area with the necessary skills and background is the Small Business Administration government site.
Step 5: Apply for Licenses, Taxing Certificates and Other Necessary Paperwork
Nothing is as certain as death and taxes. It is no different in business, with one exception. As a wholesaler you will be required to pay taxes and other fees to your state and to the federal government.
The one exception is that you will be granted tax-exempt status for the actual goods you are moving between the manufacturer and other retailers. This can be a tricky process and is handled at the state level.
Again, for this part you will want to make extensive use of your state taxing authority as well as local Chambers of Commerce. One wrong mistake here can end up costing you not only money, but possible your entire business.
Step 6: Establish Your Facilities
Location, location, location. Businesses must exist somewhere and like most things in life there are rules and regulations on where they can be. Will you be having semi-trailers coming to your location at all hours of the day and night? Will you have a storefront for vendors and clients to come calling at? What about electrical, water and sewage needs?
Zoning laws exist to make sure that the right structures end up in the right places. Nobody wants a warehouse next door to them in a residential neighborhood. Work with commercial real-estate agencies to find a suitable place for your business.
Step 7: Establish Your Relationships
You have the facilities, you have the finance - now do you have anyone supplying you product or customers for that product? Work with manufacturers and retailers to build a relationship. This can be one of the most difficult parts of the experience, and is where the rubber hits the road.
In addition, relationships extend beyond your customers and suppliers. It is good practice to establish relations with your local Chamber of Commerce, retail associations and labor organizations in your area.
Step 8: Marketing
Wholesalers traditionally do not advertise. That does not mean you should not market your business to others, after all how can you build relationships or expand on existing ones? Wholesaling guides are published and distributed to many retailers and this is where the bulk of your marketing efforts will be directed. The other half should be in going to retailers directly, meeting with buyers and outlining your services. Just because you have a customer today does not mean you can rest on your laurels.
Marketing works hand in hand with building a relationship and maintaining it.
Step 9: The Machine in Motion: Servicing Your Customers
Product is coming in, retailers are placing orders - we are all done right? Not exactly. Getting the product to your customers, answering questions about delivery timeline, working with vendors to obtain new product lines, it is a complex and demanding part of the business.
In today's 'just in time' marketing model a delay in shipment could mean the end to a business relationship. You must keep your customers informed of any status changes, pricing concerns and product movements from your facility to their loading dock. This is where back end systems come into play by maintaining records and logs of all activity with that customer. Do not underestimate the value of a good Customer Relationship Management system.
Step 10: Employees, Accounts Receivable and Other Financial Matters
Once everything is up and running your next focus is your business financial present. Employees need to be hired and fired. Payroll needs to be met. Money must come in, and money must go out. Here you should invest in financial talent and services if you do not possess them already.
One oversight can mean the loss of hundreds of thousands of dollars; a missed payroll deadline could mean your entire business comes to a halt. It is critical that you constantly keep an eye on the books and on your expenditures. Know when to tighten the belt, and know when to expand.
Article source: Free Sales Articles.
Survive The Economic Crisis With Employee Attendance Software
6:23 AMWorkers attendance is a critical part of any business. It can hurt the company financially when employees do not show up for work or take a great deal of time off due to sickness. The productiveness goes down and the owners looses a massive amount of cash. There are methods to check every employe is showing up to their job everyday.
There is a department which controls the employees attendance and this is called the personal section. package can be acquired that simplify the technique that is used to handle employees attendance records. When Employee attendance is down and these individual are plainly not showing up for their jobs, it is time to step up and protect the company and the assets.
An owner of the company can setup the human resource section with the tools they need to watch individual's that have a history of coming in late or taking time off when they do not have the time to spare. Software programs are available that can help with these tasks and make the business more efficient.
Any person in the human resources department should be able to use this software without too much trouble. This software can keep a watch on any Employee to see if they are present at their place of work. Workers attendance sheets can also be printed out using this package. With a simple search tool, the resource department can check to see if the employes that have a history of not coming in are present. If the Workers has not turned up for work that day, the company oversees or supervisors can see an instant history of the Employee and make up one's mind whether they should keep that person's job open for them.
A business needs their workers to turn up on time each day for their company to be viable. If an Workers does not turn up for work the company may have to use an agency to provide them with a worker for that day, this is a very expensive, and the profitability of the business will suffer. Plainly there are recognised reasons why employees may not be able to make it work that they. However, when this is happening all the time the business must take some action. There is no reason that the personal section can't keep a close eye on workers who are taking time off work on a regular basis, the software will help them stop any possible troubles even before they begin. Employee attendance is mandatory. To survive, and to keep their costs down a business must ensure that each Employee arrives at work at the correct time.
Author: Paul Abbey
About the author:
P Abbey owns and operates http://www.employeeattendanceinfo.com/employeeattendancetrackingsoftware.html Employee Attendance Tracking Software
Article source: Free Sales Articles.
A Testimonial is Worth 100 Cold Calls
10:08 AMIf you hate cold calling, and even if you don't, you should start capitalizing on the work you've already done.
So often we don't utilize one of the most persuasive selling components in our marketing materials - the words of our own clients. Many creative people have wonderful testimonials from clients, but never use them for fear that they are 'bragging' or that it is 'too self promotional.'
Well of course it's self promotional! That's what good marketing is!
When you are finished a project for a client, why not capture that moment in the client's own words to use for showing potential clients the value of your services? Testimonials are even more crucial for creative businesses because it is more difficult for the average person to set a value on most arts related items and services. Seeing others talk about the value of working with you will help them more readily understand the value of your work.
If your client doesn't come running to you with a testimonial, then ask her for one. There is nothing wrong with that and most clients are honored you asked them.
The best testimonials are ones that show a measurable goal has been reached and uses language that your potential clients can identify with.
For example, here is a testimonial I received from a client who is an artist:
'I just recently got back from a job I did up in Cape Cod worth over $11,000 and it is because I used the techniques I learned from you to turn a consultation into my biggest job ever.'
-Amy Ketteran, Ketteran Studios
Here's another example of a testimonial I received from a corporate client:
'My improved confidence/speaking skills has helped my career as well as Verizon Connected Solutions since we are now working on developing partnerships/joint ventures with some large manufacturers and I am involved with seminars to promote these potential partnerships. Since I began working with Kirstin I've had several speaking opportunities and I can tell you her methods work. In fact, because of my work with Kirstin, I gave testimony in court that caused VCS to win a nearly $1 million lawsuit with customer who refused to pay. I can't thank Kirstin enough!'
-Ed Ruby, Director of Business Operations
Verizon Connected Solutions
If you have testimonials, but they are not measurable, then they aren't as persuasive as they need to be in order to sell a future client. To get measurable testimonials, all you have to do is ask for them. If you receive a testimonial from a client that isn't measurable and doesn't show a specific example of how that client has improved since working with you, then thank the client for the kind comments and ask him to narrow down the success to one or two specific items that are improved due to your work together.
You can respond with something like:
'Thanks for your feedback. It's wonderful to hear about your success. What specifically has improved during our work together? Were you able to measure the difference?'
The more measurable the testimonial, and the more the client speaks in his own words, the more persuasive it is to the potential client, and the easier it is to generate new business.
Review your client list and look back over recent projects. Ask your best clients for measurable testimonials. It's a whole lot easier than making a cold call!
Article source: Free Sales Articles.
Three Reasons Why People Won't Buy And Three Ways To Fix It!
6:44 AMMost of us at some point in our career have experienced the frustration of being unable to 'close the deal'! We've walked away wondering what else could have been said, shown or done in order to GTC (Get The Check).
Well, I'm here to suggest to you that sometimes it's simply not the right time for the prospect to 'get in', 'do the deal' or 'sign up'. For some unknown (or known) reason, the timing just doesn't seem to fit their lifestyle right now. We've all heard the expression, No doesn't mean NO � it just means, not right now!
I submit to you that people don't care how much you know, until they know how much you care! It is up to you (the seller) to communicate to your prospect with every means of communication you have, to become their friend. That's right � their friend!! No one wants to buy from a stranger; everyone prefers to buy from someone they know, someone they feel they can trust. It's our job to get from stranger to friend as quickly as possible.
Three reasons why people won't buy:
1 - No Money
2 - No Need
3 - No Trust
When responding to someone's interest, we must first determine at what 'level' his or her interest lies. Simply put, there's a big difference in someone who is just 'interested' as opposed to someone who is 'committed' .If you are working over the phone or through email, the following three questions may help you in determining a person's interest level and assist you with qualifying your prospect.
You may open up your memo or conversation with �'I'm responding to your request for more information about the ecommerce opportunity found on our website'.
1 - What kind of work are you in now?
You are wanting them to say (or write) something to the effect of '� they are tired of what they are doing or looking for some sort of change �' Most likely if they are not unhappy with what they are presenting involved in, there may not be enough motivation to commit to another opportunity. They at least need to want to supplement what they are currently doing with an additional plan.
2 - Are you looking for something full-time or part-time?
This will give you a good idea of their commitment level (if any). Everyone has his or her own definition of what part-time means as opposed to full-time. Most would agree that full-time is anything over forty hours in a single week. However, keep in mind that a great number of individuals wind up treating a part-time position as a hobby and therefore, getting paid as if it were a hobby! Someone who is truly hungry for a change in his or her lifestyle may need to under go a complete paradigm shift.
3 - What do you see yourself doing five years from now?
Listen to their answer, it may be a bit undefined but you will sense in their 'story' whether or not there's a fit for them in your business.
Begin to tell them a little bit about your business. Give them the 'sizzle message' about what's hot with your deal and why they need to be a part of the team. Include several 'buzz words' to describe your opportunity and allow them to feel your excitement and level of energy!
Most important! Ask them a direct YES or NO question. Preferably a call to action of some sort, that will enable you to take them to the next step of your system and lock them into a commitment. A question such as 'Does that sound like something you would like to hear (or receive) more information about?
A lot of times people want YOU to answer more questions at this time. They may ask you things like:
1 - How much is it?
2 - What do I have to do?
My suggestion is to plug them into a 'system' and let the system answer their questions. Even if you know the answers, it's still better to let the system do the work for you. Why? Simply put � it's duplicatable! You may be a super savvy salesperson but your prospect may not have your talent or skill level. Therefore, they think they have to be like you in order to make things work for them. If you have a 'system', everyone can do it!! It's the old KISS method, (Keep It Simple Sweetheart).
Become their friend and service them again!
See ya sometime �
Article source: Free Sales Articles.
11 Proven Ways to Skyrocket Sales
12:42 PM1. Advertise Smart
Nothing risked nothing gained... Wise marketers understand the good sense in trying new advertising methods, but don't go out on a limb to experiment. Are the advertising campaigns you've been using working, but not setting off the explosive response rates that you are looking for? Try this... experiment with about 20 percent of your advertising budget, and let the remaining 80 percent continue to do its job of keeping a steady stream of customers coming in.
2. Reduce and Multiply
Big isn't always better, sometimes quantity is more effective. Try reducing the size of your current advertisements and run more. Surprisingly, short ads often generate more response than long ads. Yep, keep it short and sweet, and watch the results.
3. Liven up Your Ads
Take a look at your current advertisements. Are they full of active, lively, colorfully stimulating phrases? Yeah, get rid of all those boring words and replace them with phrases like...it's as easy as 1, 2, 3... hurry! Don't miss out...Save, save, save!...Act now!... That's right, keep things hopping and full of action for effective advertising results.
4. Give 'em the Warm Fuzzies
People buy products for the feeling they get from the purchase. How do you feel when you get a new car? Yeah, excited, proud and anxious to show it off a little bit. Keep in mind these feelings, and draw word pictures with your advertisements that will stimulate them. Yeah, you'll be surprised at the results you'll get from encouraging and dramatizing the desires of your readers.
5. Send Them a Postcard
It only takes a minute to read the back of a postcard. Most people are just like you - busy, busy, busy. Regardless of how busy we are, all of us automatically read postcards that are short, clear and concise. Send postcards with short ads to your target audience, and watch the flood of response sweep in.
6. Pay Your Customers to Advertise
Nothing is more effective than word-of-mouth advertising. That's right! Your customers can say it better than you could ever say it, so why not let them? Yeah, implement a reward program for referrals and watch your sales climb.
7. Say Thank You
It only takes a minute to put a thank you card in the mail to a customer, but the effects of your thoughtful act can create a loyalty that will last a lifetime. Yep, we all like to be appreciated...your customers do too.
8. Sell to Your Current Customers
The idea that sales growth comes from new customers isn't always true. Yeah, you can increase sales with the customers you already have! Have you tried offering them a product that will complement the item they are buying? What about follow ups? It's a lot easier to sell more to your current customers than to get new customers through the door. Don't overlook the potential that's in your store today!
9. Combine Items for Special Sales
Buying in bulk is ALWAYS cheaper...or is it? Consumers tend to feel that buyer in larger quantities is saving them money. Take advantage of that feeling. Group a few products together and advertise a special sale. Yeah, customers will feel pressured to shell out the dinero before the deal expires!
10. Surprise, Surprise!
Who doesn't like a pleasant surprise? Yeah we all do, especially after we've made a purchase that our conscience is telling us we shouldn't have. Do you want to get rid of those after purchase guilt trips for your customers? Give them a surprise at the register! They'll leave feeling like it was their lucky day, rather than struggling with the after-the-sale blues.
11. Count the Losses
When we look at sales, we often focus on what will be gained by the purchase. What about the loss that results from failing to purchase? Most of us are more affected by losses than by savings. Let your customers know what they'll be losing by failing to take advantage of your offer.
How many of these techniques are you using? Try implementing some new strategies and watch for new results! Yeah, nothing ventured... nothing gained. Sometimes it pays to take another look at what we're doing, and take it up a notch. Give these 11 tips a try, and watch your sales skyrocket!
Article source: Free Sales Articles.